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senator thune. a fiscal cliff deal is a new way calculating inflation that would lower social security payments. democrats say they would do it as part of much bigger deal but it was off the table for the smaller deal they are working on. so democrats called it a poison pill. >> at some point, negotiating process, it appears there are things that stopped us from moving forward. i hope we're not there, but we're getting real close. that is why i still hold out hope we can get something done, but i'm not overly optimistic but i'm cautiously optimistic. >> chuck schumer from new york continues to say the things, meaning a deal, always happens at the end. >> gregg: we'll probably hear about the change of cpi which is basically a new way of calculating an index the cost of living and slowing down the growth of sbph like social security. we'll probably hear about. mike, thanks very much. >> arthel: we're going to the white house where president obama is holding firm to his demand and blaming republicans for the failure to reach a deal. the president also appearing on a political talk show th
: if lawmakers fail to strike a deal on the fiscal cliff, you've heard about that fiscal cliff by now -- this year's new year's eve will be a countdown to financial pain for many families all across the country. tax hikes mean nearly all americans will see less money in their paychecks. while the government will have to slash spending across the board with the military taking a hard hit. but economic news for 2013 apparently may be not all bad and some analysts say there are reasons to be optimistic. so let's bring in financial advisor carolyn castleberry. thank you for joining us. we could all use some good news. hopefully you're here to bring that. >> i will try. it doesn't seem like happy new year and fiscal cliff go in the same sentence. >> heather: it really doesn't. you know, we talked about the recession, it began five years ago, reportedly ended -- reportedly more than three years ago. yet 12 million americans looking for work. families have been drowning in mortgage debt for years on end. why should we feel optimistic about 2013? >> it's interesting, i was talking to some peo
appearance since 2009. on meet the press. now, pushing a deal on the fiscal cliff. as you noted on capitol hill is where all of the action is right now. the president when he bought the leaders here on friday said they have to try to work something out over the next couple of days and said on "meet the press" his position was either there is a deal or he wants the senate to bring up h his version of this short-term stop gap measure that would extend tax cuts for those making $250,000 or less and extend unemployment. he said if republicans stop they will be to blame for the fiscal cliff. what role do you have in this don't you have to show leadership to break the imabout passe? the president went back to pointing the finger at republicans. take a list. >> speaker boehner and republican leader mcconnell to accept the fact taxes on wealthiest americans should go up a little bit. if folks can't say yes to good offers i have an obligation of the american people to make sure that the entire burden of deficit reduction doesn't fall on seniors who are relying on medicare. >> now, what the presiden
2009, when he was pushing health care reform, now, obviously trying to sell a fiscal cliff deerl deal. he went on nbc's "meet the press," again and again, he hammered the message, trying to put the blame on republicans for the fact we are up against this tight deadline. the president made clear that if republicans in the next 48 hours do not come up with a counter proposal to get us through this crisis, he wants an up-or-down vote on his short-term plan to extend unemployment for 2 million people and extax cuts for those making $250,000 or less. >> not because democrats in congress don't want to go ahead and cooperate but because i think it's been very hard for speaker bainer and republican leader mcconnell to accept the fact taxes on the wealthiest americans should go up a little bit, as part of an overall deficit reduction package. if folks can't say yes to good offers, then i also have an obgigs to the american people to make sure that the entire burden of deficit reduction doesn't fall on seniors, who are relying on medicare. >> reporter: the president focusing his comments on the
b back fire in the final hours before america goes over the fiscal cliff. they are trying to craft a plan c. america's news headquarters live from the nowy nation's capitol starts now. >> hello everyone. we are down to the wire and an impatient president obama is leaning on top lawmakers to cut a deal. senate leaders are rushing to hammer out a last ditch compromise. mike emmanuel is live with the latest on the negotiations. >> hi, molly it is it eye critical window. we are not expecting an announcement today, but they are trying to carve out a deal capable of winning bipartisan support. president obama said the u.s. can't afford a self inflicted wound to our economy. >> fortunate lie congress can prevent it from happening if they act right now. i had a good and constructive discussion with senate and house leadership about preventing the tax hike on the middle class and we should be able to reach an agreement to pass both house necessary time. >> senate leaders can't strike a deal. it would be a plan c. keeping tax cuts for those making $250,000 or less . extending unemployment be
that solves the fiscal cliff, it will have to include spending. we will have to deal with the debt ceiling. we need to focus on spending, as much as we can because it will be the demise of this country. >> eric: congressman, what do you predict will happen? will we have a deal? >> i don't know. we got called into a meeting tonight, in washington, d.c., in fact, i am leaving here to fly to washington right away. the meeting was not supposed to take place until the morning. ordinarily, that means that something is up. you mentioned in the intro to this piece that there is a 3:00 deadline. it may be a testament to the fact that we are up against's deadline. i don't know. i hope we will see something clean and simple in the next 24 to 48 hours. if the president load its up with stim scplus unemployment insurance and delays on the spending cuts, we are going to have a problem. but i am getting more comfortable that we will see something in the next 24 hours. >> eric: we'll see what happens. happy new year, by the way -- if we can have one. nice tie. [chuckles] >> eric, thanks very much. >> economis
we expect a deal here or is the nation heading over the fiscal cliff? >> we can still avoid going over the fiscal cliff if the president and the democrat-controlled senate step forward this week and work with republicans to solve this problem and solve it now. [ roasting firewood ] ♪ many hot dogs are within you. try pepto-bismol to-go, it's the power of pepto, but it fits in your pocket. now tell the world daniel... of pepto-bismol to-go. >> gregg: time for a quick check of the headlines. police have a suspect in custody in new york city's deadly subway push. the woman apparently made statements implicating herself in thursday's murder of a 46-year-old man. >>> same sex marriages are now legal in the state of maine. the law went into effect at midnight and authorities immediately began issuing licenses and performing weddings. >>> a french court rejecting a 75% millionaire's income tax scheduled to begin in 2013. the tax would have made the rich contribute a whole lot more to cutting public deficit. >> arthel: here at home as senator leaders work behind closed doors to cut an 1
years ago shall the spending cuts, the fiscal cliff, it was designed to force washington to deal with the nation's long-term debt problem. and instead, here we are, a final hour, who knows what will happen next and i want to specifically ask you about the lack of progress on those structural issues like entitlement spending because even the plan c isn't touching that. so that means regardless of what happens before january 1st, investors will then be dealing with a certain degree of political risk long-term after the fiscal cliff deadline has passed. so, how will that affect the market on the economy in terms of spending cuts? >> well, my fear is that the compromise will be that we get the tax increases and they postpone the spending cuts and that's the ultimate objective. >> yes he. >> and you know, that is something that the economy will recover from and something will adjust to. remember, about half of the increased taxes on the average individual come from simply the roll off of that fica tax break we received the last two years, so, you know, the tax increases inasmuch as yo
old. kelly: we are now just seven days away from going over that so-called fiscal cliff and when automatic tax hikes and spending cuts kick in. there are several different ways this drama could play out on capitol hill to the white house. from no deal at all to a big agreement just in time, just in the nick of time i should say but those are not the only scenarios out there. brad blakeman, former deputy assistant to president george w. bush. stephanie max he willwell, democratic strategist and columnist. they join us to shed light on this. what are we going to do about the fiscal cliff when it is looming so -- if they do something about it and get back to congress this week as they're supposed to do. do they have enough time to get it done? >> i don't know if they have enough time to get it done, if republicans in the house are not willing to make any substantive concessions. and that means that they need to listen to what american voters said in november and raise the tax rates on the top 2%. that is what everybody voted for and that's what we want. and so i think that republica
Search Results 0 to 8 of about 9